Centre increases export duty on diesel amid economic concerns

NEW DELHI: The central government has increased export duty and excise duty on diesel in view of the country’s economic situation. The export duty on diesel has been raised from Rs 21.5 per litre to Rs 55.5 per litre. However, there is no change in the export duty on petrol. The Special Additional Excise Duty on high-speed diesel has been increased to Rs 24 per litre. The Road and Infrastructure Cess has been fixed at Rs 36 per litre.

Meanwhile, the export duty on aviation fuel has also been increased. It has been raised from Rs 29.5 per litre to Rs 42 per litre. The central government has taken this step to manage the economic impact caused by tensions in West Asia and to increase revenue to the government treasury. With the revised rates coming into effect, it may impact the profit margins of oil companies and also affect trading in the global market.